The stock of PureCycle Technologies Inc (PCT) has gone up by 6.77% for the week, with a 1.59% rise in the past month and a 18.19% rise in the past quarter. The volatility ratio for the week is 5.59%, and the volatility levels for the past 30 days are 5.54% for PCT. The simple moving average for the past 20 days is 5.67% for PCT’s stock, with a 24.47% simple moving average for the past 200 days.
Is It Worth Investing in PureCycle Technologies Inc (NASDAQ: PCT) Right Now?
Company’s 36-month beta value is 1.67.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for PCT is 139.69M, and currently, short sellers hold a 29.15% ratio of that floaft. The average trading volume of PCT on July 18, 2024 was 1.64M shares.
PCT) stock’s latest price update
The stock price of PureCycle Technologies Inc (NASDAQ: PCT) has plunged by -1.06 when compared to previous closing price of 6.14, but the company has seen a 6.77% gain in its stock price over the last five trading sessions. accesswire.com reported 2024-06-11 that ORLANDO, FL / ACCESSWIRE / June 11, 2024 / PureCycle Technologies, Inc. (NASDAQ:PCT), today, announced the receipt of a Letter of No Objection (LNO) from the United States Food & Drug Administration (FDA) confirming that the Company’s PureFive™ Ultra-Pure Recycled resin is suitable for use in food-contact applications. This LNO expands upon a previous no-objection letter to PureCycle from the FDA, confirming that the Agency considers PureFive™ Ultra-Pure Recycled resin to be suitably pure for use in contact with all food types under FDA’s Conditions of Use A through H.
Analysts’ Opinion of PCT
Many brokerage firms have already submitted their reports for PCT stocks, with Craig Hallum repeating the rating for PCT by listing it as a “Hold.” The predicted price for PCT in the upcoming period, according to Craig Hallum is $4 based on the research report published on January 03, 2024 of the current year 2024.
ROTH MKM, on the other hand, stated in their research note that they expect to see PCT reach a price target of $3. The rating they have provided for PCT stocks is “Neutral” according to the report published on December 19th, 2023.
PCT Trading at 10.17% from the 50-Day Moving Average
After a stumble in the market that brought PCT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -48.91% of loss for the given period.
Volatility was left at 5.54%, however, over the last 30 days, the volatility rate increased by 5.59%, as shares sank -0.49% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.99% upper at present.
During the last 5 trading sessions, PCT rose by +7.21%, which changed the moving average for the period of 200-days by +8.73% in comparison to the 20-day moving average, which settled at $5.75. In addition, PureCycle Technologies Inc saw 50.00% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PCT starting from Musa Fernando, who purchase 18,303 shares at the price of $5.46 back on Mar 08 ’24. After this action, Musa Fernando now owns 68,413 shares of PureCycle Technologies Inc, valued at $99,934 using the latest closing price.
Somma Lawrence C, the Chief Financial Officer of PureCycle Technologies Inc, purchase 12,510 shares at $3.99 during a trade that took place back on Nov 16 ’23, which means that Somma Lawrence C is holding 420,371 shares at $49,965 based on the most recent closing price.
Stock Fundamentals for PCT
The total capital return value is set at -0.19. Equity return is now at value -39.29, with -20.13 for asset returns.
Based on PureCycle Technologies Inc (PCT), the company’s capital structure generated 0.46 points at debt to capital in total, while cash flow to debt ratio is standing at -0.29. The debt to equity ratio resting at 0.85. The interest coverage ratio of the stock is -2.93.
Currently, EBITDA for the company is -95.04 million with net debt to EBITDA at -4.19. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.17.
Conclusion
In a nutshell, PureCycle Technologies Inc (PCT) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
